The initial public offering (IPO) of non-banking financial company (NBFC) Tata Capital received a muted response from retail investors on Monday, which is the first day of bidding, as per National Stock Exchange (NSE) data.

The issue was subscribed by only 38 per cent, compared to the issue size of 333.43 million shares, on October 6, according to NSE data.

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Tata Capital IPO is a book building issue of Rs 15,511.87 crores. The issue is a combination of fresh issue of 21.00 crore shares aggregating to Rs 6,846.00 crores and offer for sale of 26.58 crore shares aggregating to Rs 8,665.87 crores. The price band is set between Rs 310 and Rs 326 per share. The minimum lot size for an application is 46 and the minimum amount required for a retail investor is Rs 14,260 (46 shares)

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